Answer:
An advisory board
Explanation:
An advisory board is an entity which provides non-binding strategic advice to a company, organization, or foundation management. The informal existence of an advisory board allows the board of directors greater flexibility in structure and management compared to that.
Answer:
$1,000
Explanation:
The computation of gain on sales is given below:-
Depreciation per year = $40,000 - $10,000 ÷ 10
= $3,000
Life of equipment = 5.5 years
Accumulated Depreciation on equipment = 5.5 × $3,000
= $16,500
Book value of equipment = $40,000 - $16,500
= $23,500
Gain = Proceed from sale - Book value at the time of sale
= $24,500 - $23,500
= $1,000
Gain or loss from the sale of property must be calculated. The loss from foreclosure of property must be subtracted from wage income.
